IRS Income Data for Panama City Beach, FL 32407
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| Under $10K | $10K - $25K | $25K - $50K | $50K - $75K | $75K - $100K | $100K - $200K | $200K or more | |
|---|---|---|---|---|---|---|---|
| Percent of Returns | 21% | 27% | 25% | 13% | 6% | 7% | 1% |
| Number of returns | 960 | 1,258 | 1,143 | 596 | 301 | 332 | 68 |
| Number of joint returns | 101 | 211 | 333 | 340 | 217 | 267 | 48 |
| Number of returns from paid preparer | 450 | 562 | 460 | 278 | 141 | 181 | 54 |
| Total number of exemptions | 1,084 | 2,009 | 2,065 | 1,240 | 728 | 805 | 154 |
| Total number of dependents | 161 | 344 | 347 | 199 | 118 | 122 | 21 |
| Adjusted gross income | $2,752 | $17,153 | $35,550 | $61,275 | $85,968 | $132,860 | $543,833 |
| Salaries and wages | $6,034 | $14,826 | $30,220 | $45,710 | $60,292 | $96,309 | $153,688 |
| Taxable interest | $421 | $401 | $537 | $1,329 | $2,375 | $3,715 | $26,230 |
| Ordinary dividends | $202 | $199 | $409 | $754 | $1,875 | $2,258 | $7,919 |
| Business or professional net income | $-1,159 | $632 | $578 | $1,294 | $1,335 | $3,668 | $11,372 |
| Net capital gain | $798 | $-5 | $5 | $834 | $1,214 | $3,402 | $37,964 |
| Taxable individual retirement account distributions | $138 | $355 | $642 | $1,605 | $2,348 | $4,919 | $16,629 |
| Taxable pensions and annuities | $469 | $1,132 | $2,725 | $7,406 | $12,334 | $13,441 | $12,673 |
| Unemployment compensation | $55 | $214 | $164 | $146 | $188 | $174 | $0 |
| Taxable Social Security benefits | $0 | $81 | $794 | $2,667 | $3,667 | $3,288 | $4,005 |
| Self-employment retirement plans | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total itemized deductions | $1,851 | $1,430 | $4,040 | $8,583 | $12,191 | $19,614 | $42,315 |
| State and local income taxes | $32 | $0 | $59 | $104 | $268 | $621 | $3,108 |
| State and local general sales tax | $17 | $32 | $117 | $358 | $518 | $990 | $1,182 |
| Real estate taxes | $180 | $141 | $358 | $860 | $1,165 | $2,324 | $5,695 |
| Taxes paid | $246 | $185 | $555 | $1,349 | $1,992 | $4,065 | $12,067 |
| Mortgage interest paid | $924 | $554 | $1,949 | $4,447 | $6,088 | $10,403 | $15,623 |
| Contributions | $22 | $107 | $317 | $834 | $1,501 | $2,919 | $9,788 |
| Taxable income | $213 | $5,342 | $19,706 | $40,032 | $60,718 | $101,349 | $316,722 |
| Total tax credits | $0 | $67 | $305 | $483 | $606 | $509 | $2,514 |
| Residential energy tax credit | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Child tax credit | $0 | $24 | $201 | $381 | $471 | $193 | $0 |
| Child and dependent care credit | $0 | $4 | $29 | $22 | $44 | $29 | $0 |
| Earned income credit | $348 | $760 | $200 | $0 | $0 | $0 | $0 |
| Excess earned income credit | $310 | $697 | $174 | $0 | $0 | $0 | $0 |
| Alternative minimum tax | $0 | $0 | $0 | $0 | $0 | $90 | $1,406 |
| Income tax | $26 | $518 | $2,211 | $5,306 | $8,631 | $18,158 | $80,999 |
| Total tax liability | $104 | $634 | $2,374 | $5,571 | $9,091 | $18,948 | $83,834 |
| Tax due at time of filing | $31 | $59 | $166 | $517 | $775 | $1,958 | $11,095 |
| Overpayments refunded | $-1,071 | $-1,865 | $-2,176 | $-2,329 | $-2,782 | $-2,878 | $-2,852 |
| Total Tax Liability / AGI | 4% | 4% | 7% | 9% | 11% | 14% | 15% |
All numbers in the table are 2010 averages for that income class and zip code.
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